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WHAT TO WATCH FOR TODAY
A contentious ruling on the South China Sea. The Philippines has challenged China’s sweeping territorial claims, which are based on lines on a 70-year-old map. China has vowed to ignore the ruling by the UN’s Permanent Court of Arbitration, saying it has no jurisdiction.
Europe pushes China to open its markets. EU leaders are in Beijing for two days of discussions on economic and political relations. The EU wants its companies to have the same level of access that Chinese companies enjoy in Europe.
Bernie Sanders endorses Hillary Clinton. After months of bitterly fought primaries and weeks of negotiations, the Vermont senator is expected to formally endorse the presumptive Democratic nomineeat an event in New Hampshire. His endorsement will probably ensure him a prominent speaking slot at the party convention this month.
SPONSOR CONTENT BY EY: BUILDING A BETTER WORKING WORLD
The IoT can do more than measure your steps. Connected devices are poised to revolutionize our lives, but many companies have yet to see their commercial potential. Leading organizations are considering an often-overlooked option: industrial IoT.
WHILE YOU WERE SLEEPING
South Sudan’s leaders declared a ceasefire. President Salva Kiir and political rival Riek Machar ordered their troops to stop the deadly fighting that erupted last Thursday, just before the country celebrated its Independence Day. The conflict has caused more than 300 people to die and 2,000 civilians to move into sanctuary camps.
US regulators are investigating Tesla. The Securities and Exchange Commission wants to know if the electric car-maker broke the law by failing to promptly tell investors about a fatal crash of one of its cars while it was in autopilot mode. In the eight weeks between the accident and its disclosure, Tesla and CEO Elon Musk sold $2 billion worth of stock to the public.
Ultimate Fighting Championship sold for $1.4 billion. The mixed martial arts fighting league was purchased by a group led by talent giant WME-IMG, which represents martial arts stars like Rhonda Rousey. Casino entrepreneur brothers Frank and Lorenzo Fertitta will stay on as minority owners.
Pokemon Go’s creator assuaged fears of snooping. Niantic, the mobile developer behind the game, stated it only collects users’ character IDs and e-mail addresses. A minor frenzy erupted when a security researchers said it might be possible for Niantic to read players’ emails and access Google Drive accounts.
QUARTZ MARKETS HAIKU
Winter is coming,
Things feel really bleak, and then
Stocks hit all-time highs.
QUARTZ OBSESSION INTERLUDE
Samir Goel on loneliness in Silicon Valley. “The craze for building new co-working spaces is just a manifestation of the loneliness entrepreneurs face. Many in the industry have accepted the reality of their lifestyles and are looking for kindred spirits—people who will understand, and relate to, their priorities. Co-working spaces are a way to hang out with the kind of people who won’t be disappointed when dinner gets canceled for the fifth time in a row.”Read more here.
MATTERS OF DEBATE
The modern obsession with self-care masks society’s real problems. Focusing on fixing ourselves distracts us from fixing the system.
Don’t be fooled: Brexit wasn’t a revolt against the elite. It was one privileged group backstabbing another to climb a social totem pole.
Millennials will never retire, but they may be happier for it. A long professional life is associated with stronger social connectionsand better health.
Everything we know about bubble tea we owe to a typhoon. A storm-related bet prompted the internet’s crowdsourcing of favorite recipes for the sweet drink.
Florida’s toxic algae can be seen from space. The green goohas forced the government to declare a state of emergency in four coastal counties.
David Cameron hummed his way out of a job today. A hot mic caught the outgoing prime minister savoring a jaunty tune.
Amazon is turning its Seattle headquarters into a jungle. Three giant terrariums will feature 3,000 exotic plant species and treehouse meeting rooms (paywall).
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